The SPP done this way is a win-win design for small share...

The SPP done this way is a win-win design for small share holders and RXL. It is free money to me.

1. RXL will get its $3M. I would not be surprised by a small oversubscription.

2. Shareholders were able to buy more RXL for around 20% less or better of a market low.

3. Shareholders can book a capital loss near the tail end of the tax year by selling the SPP quantity of their pre-exisiting RXL into the period prior to the issue
AND..   AND  buy those RXL back for around 20% less or better through the SPP.

4. The 20% of $15,000 is $3,000.

5. By the end of June or July RXL SP will have recovered back to pre-SPP prices. SP may even be better as the field season and drilling rolls on.

6. Do you recall (amid an SPP) in 2001 the announcement of the Prominent Hill discovery drill hole by Minotaur Exploration Limited in the midst of their SPP. Were you in it? If an RXL mega announcement were to come out post close of acceptances (closed today Fri 29 May 5pm) - wow! Even though we might have sold the SPP quantity pre-issue, our SPP shares and residual RXL, if any, will still keep us in the big rise.

Pretty much what ever happens it is a win-win. RXL get their $3M. I disagree it is a very bad strategy setting the SPP this way. It really makes good sense to me all things considering go figure. I am happy RXL have done it this way. A pat on the back to the advice givers.

RXL has credible deposits spanning four different metals; Ni, Zn, Cu and Au.

Fisher East is potentially a company maker.